Teen Lied About Earning $72M on Stock Market

New York Magazine ran a story about a Stuyvesant High School senior, told that he had earned millions of dollars by trading.

But after story went viral, he quickly backtracked.

Around 90s, there was a rags-to-riches millionaire trader Michael “Waxie” Parness. Here is the complaint lodged by the National Futures Association against Scott Littlefield, Michael Parness and his hedge fund, Trend Fund Management. Take note of how they accuse them of misleading investors with testimonials that are not documented, but used to lure unsuspecting victims into the trap of believing someone that can’t do anything but take clients money is actually a market expert.

The media is not here to help you. The media once in a while have a story about a rags-to-riches millionaire trader. It generates profit for the media and trading schools.

Comments

  1. VideoPortal April 2, 2017 at 11:05 pm

    A 17-year-old high school student who spun a wild tale about earning $72 million trading penny stocks during lunch breaks at school now admits he made the whole story up .

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  8. Maralynn May 19, 2017 at 3:24 am

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